SEC Accuses Ripple Of Advancing Inconsistent Arguments Regarding Hinman Emails
The U.S. Securities and Exchange Commission has asked the court to sustain its recent objections to the recent court orders related Hinman emails.
In a recent reply brief, the U.S. Securities and Exchange Commission (SEC) defended its objections to recent court orders compelling it to produce the draft emails of the Ethereum speech that was given back in 2018 by former top official William Hinman.
The U.S. Securities and Exchange Commission is still adamant that the speech drafts are unrelated to the allegations in the case.
In order to get the agency to turn over the requested papers, the plaintiff has charged the defendants of using a “fundamentally inconsistent argument”
Although Ripple’s legal team believes that many people interpreted the Hinman speech to imply that the XRP wasn’t an unregistered securities, this agency asserts that this is categorically untrue. In fact, the agency sent a link to a Fortune article that claimed that the Ripple-related cryptocurrency would find it difficult to satisfy the regulator’s decentralization requirements.
The speech is shielded by both the attorney-client privilege and the deliberative process protection. All of the agency’s attempts to keep the materials secret have thus far been denied by Magistrate Judge Sarah Netburn.
In its complaints, this agency accuses Ripple of misrepresented the judge’s decisions. The plaintiffs contend that compelling the agency to turn over the draft emails could increase regulatory clarity.
The SEC has requested that the court reject Ripple’s claims and uphold its objections.
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